Kate Swann achieved what some thought impossible — turning around WH Smith and saving it from the fate that has met many once famous high street stalwarts.
But after nine years at the helm, she has decided to step down on a high as the retailer today reported a 10 per cent rise in annual profits to £102 million. That figure compares with a £135 million loss in 2004.
Ms Swann said it had been a “great privilege” to run WH Smith for the past nine years.
She refocused the retailer, which has 618 high street stores and another 619 at travel sites such as airports and train stations, away from lower-margin CDs and DVDs towards books and stationery, and reduced its dependence on the